FPJ Exclusive: Maharashtra Government to ink Rs 61,000 crore worth investment MoUs
FPJ Exclusive: Maharashtra Government to ink Rs 61,000 crore worth investment MoUs

Mumbai: Days after the Maha Vikas Aghadi government completed one year in office, it will sign MoUs with 25 Indian companies proposing to invest Rs 61,000 crore in multiple sectors under the 'Magnetic Maharashtra' initiative. The government expects the creation of 2.60 lakh jobs with the implementation of these projects across the state. The investors will sign MoUs with the Maharashtra Industrial Development Corporation on Tuesday afternoon in the presence of Chief Minister Uddhav Thackeray, Industries Minister Subash Desai and his deputy Aditi Tatkare.

The proposed investments will be in the sectors of engineering, automobile, IT, electronics, bio-technology, chemicals and petrochemicals, paper, logistics. Investors will get physical and fiscal sops, including relaxation in stamp duty, state GST, land on lease rental basis under the 'plug and play policy' and rebates in electricity duty and various premiums and cesses.

This is the third tranche of MOUs. In June, the government had inked MoUs for investments of Rs 16,000 crore and in November, for Rs 31,000 crore, notwithstanding the present coronavirus pandemic and lockdown in the state. On Sunday, the CM said that 70 per cent of the MoUs were at different stages of implementation.

With the MoUs to be signed on Tuesday, the MIDC will cross the investment target of Rs 1 lakh crore set by CM Thackeray for the entire fiscal 2020-21. The MIDC expects MoUs worth another Rs 50,000 cr to Rs 1 lakh crore in January and February to be signed, ahead of the Magnetic Maharashtra summit slated for February 2021.

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